Morewood Funding Announcement
Morewood Funding, LLC is delighted to announce that we had an integral role in the sourcing, placement, and closing of the following recent financings:
$25mm Leverage Facility for a Private Debt Fund
$100mm private credit fund with a niche strategy that made it unsuitable for a conventional bank to fund. Morewood arranged financing with a non-bank lender that understood the nuances of the fund’s strategy and provided a $25mm line of credit against the current portfolio holdings.
$7mm Line of Credit Backed by Receivables
Medical products distribution company with insurance receivables (both private and government). Conventional banks weren’t comfortable providing financing due to the longer-dated receivables and the complexity of off-sets to the receivables. Morewood arranged a $7mm line of credit with a lender well-versed in insurance receivables.
$3mm Line of Credit Backed by Receivables
Fast-growing transportation logistics business needed capital to bridge the gap between short-term expenses and slow-paying customers. Conventional banks weren't comfortable with the relatively short operating history of the company. Morewood arranged financing from an alternative lender based on a percentage advance against receivables. Of note, the Lender required no financial covenants and minimal corporate credit from the borrower- the focus was on the quality of the receivables.
$2mm Used Equipment Facility
An industrial business with unencumbered equipment needed access to capital. Morewood arranged a two-year loan with a Lender that specializes in lending against used equipment.
Morewood Funding arranges working capital for businesses backed by their accounts receivables, inventory, equipment, or other assets. Loan sizes range from $500k to $30mm across all geographies and industries.
If you own or work with a business in need of working capital, please call or email us at 917 561 7074 or Howard@MorewoodFunding.com, and we can discuss our potential solutions.